Buying and Your Suppliers
Purchase Ledger
You can view supplier turnover instantly for up to 39 periods. Each supplier record can hold an unlimited number of contacts, addresses and attached documents. You can analyse every invoice detail line in as much depth as you need and for maximum clarity, you can annotate each one with a full paragraph of text. Full purchase analysis is available in whichever formats you require.
You can batch invoices pending approval, or place them "In Dispute" until cleared for payment. Posting the batch automatically updates the supplier record, nominal ledger and secure audit trail. Suggested, advance and part payments are all handled with ease, as are deposits and cash allocations. Remittance advice notes, cheques and BACS payments are fully automated.
Purchase Analysis Matrix
You can automate selection of the correct analysis codes, as purchase orders are being raised. The appropriate code is chosen using a combination of factors, such as type of supplier (e.g. trade, wholesale or retail) and type of product (e.g. hardware, software or consumables). You decide which analysis codes feed into which nominal categories and the level of detail that passes through.
Because each analysis record can be configured to update a specific nominal category, you can build an accurate and comprehensive picture of all your procurement without difficulty. At the same time, automating the process removes a substantial burden from your staff - speeding the entry of new purchase orders and helping to reduce errors.
Invoice Register
Invoice Register provides a self-contained environment for recording invoices, matching them to your purchase orders (where applicable), and verifying their accuracy. To ensure that each invoice is seen by the correct members of staff before it enters the purchase ledger, you can establish a unique three-step approval routine for each supplier.
This module adds a final layer of security to the procurement process and acts as a buffer-zone between your ledgers and your supplier invoices. It enables you to register all the invoices that arrive at your business but prevents them impacting on your accounts until they have been properly approved. You will no longer waste time chasing paper invoices and will greatly reduce the risk of inappropriate payments.
